TAS has seen average median house prices change by 4.21% which means that Lenah Valley, 7008 has done well for property investors by showing a capital gain of 7.65% over the last year
A 17.31% growth in median value for property investors in Lenah Valley,7008 puts this suburb at number 30th in terms of best performing suburbs in TAS
Lenah Valley7008 is located in TAS which offers an average discount of -7.06% to property investors. Lenah Valley itself is showing figures that indicate -6.94% is the average achievable by property buyers investing in the suburb.
Often selling an investment property can take time, and in Lenah Valley the average time real estate has been on the market is 49.19 days.
Using the current median advertised rental of $390 and the average annual increase in value of a median property of 4.06%, investors should hope to achieve an overall return of 4.43%
Giving property investors a an unimpressive capital gain of -0.18% for the last year, Lenah Valley, 7008 is the 1109th highest performer in Australia in this respect.
Taking the average capital gain, or increase in median house value, Lenah Valley,7008 has racked up an average of -0.18% over the period. This ranks it number 1504th in the whole country for real estate investors looking at median house price increases.
Property investors looking for a bargain in Lenah Valley should be aiming for at least -6.70% off the asking price, which is the average vendor discount being achieved at the moment.
Lenah Valley is just 5km north-west of the Hobart CBD, situated in the foothills of Mount Wellington. It’s serviced by a number of bus routes affording easy access to the CBD, although congestion can be a problem on Augusta Road at peak times.Full summary
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Lenah Valley is just 5km north-west of the Hobart CBD, situated in the foothills of Mount Wellington. It’s serviced by a number of bus routes affording easy access to the CBD, although congestion can be a problem on Augusta Road at peak times.
There is a reasonable level of amenities within the suburb itself, including a primary school, a Catholic school and a number of shops, cafes and restaurants on Augusta Road. The wider amenities of New Town and North Hobart are also within easy reach, as is the larger shopping centre in Moonah. There are also a number of reserves and parks in the area, as well as impressive views of Mount Wellington to the west and the Derwent River to the east.
It’s affordable in comparison to neighbours Mount Stuart, New Town and West Hobart, and demand for property is high, with realestate.com.au reporting 26 people searching per property. This suggests the scope for further growth is good. Properties in the older eastern part of the suburb tend to fetch a premium.